Gregory Pepin, deputy CEO of Deltec Bank and Trust, responds to allegations in a blog post by the pseudonymous Crypto Anonymous, that Tether is a &quot;highly probably fraud.&quot; In this episode, he covers:
  how Deltec accounts for its reserves, and why they didn&#39;t show up on Crypto Anonymous&#39;s blog post
 where the dollars backing Tethers are held
 how Tethers get created
 where Tether Ltd. keeps its cash equivalents
 why there&#39;s more demand for trading with USDT than with USD partially because of the arbitrage opportunity between East and West 
 how Tethers get created using Deltec
 why USDT gets minted in very round numbers as opposed to very specific numbers that USDC is minted in
 where the cash equivalents backing Tethers are held
 what type of due diligence Deltec conducted when it took on Tether Ltd. as a customer
 why the perception that Tether is unregulated compared to other stablecoins is false
 what Deltec thinks about the New York Attorney General office&#39;s investigation in to Tether
 why Deltec has a &quot;large position in bitcoin&quot;
   
 Thank you to our sponsor!
 Crypto.com: http://crypto.com
  
 Episode links:
 Gregory Pepin: https://twitter.com/dzrgreg
 Deltec Bank: https://www.deltecbank.com/?locale=en
  
 Crypto Anonymous’s Medium post:  https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
  
 Deltec having large position in bitcoin:  https://www.theblockcrypto.com/linked/91353/deltec-bitcoin-position-tether
  
 Original video in which Deltec mentions its “large position in bitcoin”:  https://www.deltecbank.com/2021/01/14/a-covid-year-in-review/
  
 Deltec banking Tether:  https://www.coindesk.com/deltec-chairman-says-tether-letter-on-bank-relationship-is-authentic
  
 Tether not audited:  https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch
  
 Tether says it is fully backed:  https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-again
  
 Tether current balances:  https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg
  
 What Tether is backed by:  https://wallet.tether.to/transparency?__cf_chl_jschl_tk__=c035d054dd287020b16d6dbb4b70398ca7a99dcb-1611253376-0-AcOsT0Zqpd8Muzw5gnkSz6KKmTrN3WAssxGX8K-p_PkeZ2SUfW9EsAr-a2EkIojYzm5-3RA_1DHxpoK579d0YgtnxMYevlVRSS7RIAKh0sgk-ORzOZUDNgg_AvZjugdrxWVjTA9dCBf1hX4X83oU3-RTjQYn_qYukdRFJUq9a89BXyyDovL3bu4ohxSSVdworOR-cdxEiPURe4ZJrGIvuW3Ej2qJLJt3RDXfX6BfDANdpkVrU6O2KB4V0Or-HJjItS0uAu-L7KrTomXNv9anUv34_An8cH3VHYfB_OD-iyIvkgOh7RHd-Xafe-SJwPnUYg
  
 New York Attorney General’s office press

Is Tether a Fraud? Its Bank Says It's Not - Ep.161

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